Politics & MoneyMortgage

HARP, a hiring stimulus

An interesting tidbit from JPMorgan Chase [stock JPM][/stock] securities conference call on Tuesday:

The HARP expansion will likely push prepays on Fannie Mae and Freddie Mac bonds past the previous height set in the summer of 2010.

Brian Ye, an analyst with Chase, said lenders are finally ramping up capacity (hiring people) to meet the demand.

Still, he noted, it’s nearly half the 500,000 employees mortgage companies employed just before the bubble burst in 2007.


Latest Articles

Fed’s Brainard for Treasury Secretary?

Fed Governor Lael Brainard, who started her public career in the 1990s as an economic advisor to President Bill Clinton and served in the Obama administration, is the leading candidate for Treasury Secretary, Bloomberg says.

Sep 25, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please